DUBLIN--(BUSINESS WIRE)--The "Global Liquid Biopsy Market by Clinical Application, Therapeutic Application, Biomarker Type, Analysis Platform, Analysis Purpose, Product, Industry Verticals, and Geography - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global market for liquid biopsy is evaluated to register tremendous growth at a CAGR of 18.54% during the considered phase of 2021-2028.
With age, the body's immune system tends to deteriorate. Thus, people above 60 years are susceptible to chronic diseases, such as cancer. Over the year, there has been a significant rise in the number of aged people suffering from breast and colorectal cancer. Hence, the high prevalence of cancer among the geriatric population increases the need for liquid biopsy, thereby driving the liquid biopsy market's development.
Furthermore, the technological advancements and rising demand for diagnostics centers are opening new avenues for the studied market. However, the dearth of skilled professionals, coupled with the high cost of liquid biopsy tests, hinders the overall market's growth.
The global liquid biopsy market covers the Asia-Pacific, North America, Latin America, Europe, and the Middle East and Africa regions.
The Asia-Pacific is estimated to become the fastest evolving region in the liquid biopsy market over the projected phase 2021-2028. The region provides several lucrative opportunities to the studied market to attain the anticipated growth during the given period. Additionally, the high population base in countries such as India and China is estimated to boost the demand for liquid biopsy in the upcoming years. Other than this, the surge in healthcare spending, along with the rise in awareness regarding the use of liquid biopsy, is motivating the expansion of the liquid biopsy market within the APAC region.
Market Dynamics
Drivers
- High Prevalence of Cancer in Geriatric Population
- Growing Importance of Liquid Biopsy Testing
- Rising Government Initiatives
Restraints
- Lack of Reimbursement for Liquid Biopsy
- Disadvantages Associated with Compensation
- Unavailability of Skilled Professionals
- High Cost of Liquid Biopsy Test
Opportunities
- Advancement in Technologies
- Untapped Diagnostic Testing Opportunities in Developing Countries
- Growing Demand for Diagnostic Centers
Companies Mentioned
- Adaptive Biotechnologies
- Agilent Technologies Inc.
- Angle plc
- Becton Dickinson and Company (BD)
- Bio-Rad Laboratories Inc.
- Biocept Inc.
- F Hoffmann-La Roche
- Foundation Medicine
- Grail
- Guardant Health Inc.
- Illumina Inc.
- MDxHealth SA
- Menarini-Silicon Biosystems
- Myriad Genetics Inc.
- Natera
- Personal Genome Diagnostics
- Qiagen N.V.
- Thermo Fisher Scientific Inc.
For more information about this report visit https://www.researchandmarkets.com/r/n6jtar
